As Ripple finally gets its much-needed regulatory victory against the SEC, XRP traders now set their eyes toward March 28, a critical date in the derivatives market. On this day, a wave of options contracts tied to XRP and other major crypto assets will expire, with significant positioning already underway.
According to Deribit data, the March 28 expiry has attracted a surge in bullish options activity, with in-the-money (ITM) call options now dominating open interest.
The strong interest in ITM call signals indicates that many traders expect XRP to remain above key strike levels. This also suggests that market participants are positioning for potential price gains or heightened volatility around the expiry.
Also Read: Ripple Yet to Drop Its Cross-Appeal Against SEC, Garlinghouse Explains Why
XRP Leads the Charge as $2.09B in Crypto Options Face Expiry
Deribit has revealed that nearly $2.09 billion in total crypto options are set to expire at 08:00 UTC on March 28. Of this amount, Bitcoin options account for $1.83 billion, while Ethereum represents around $259 million.
$XRP is holding steady at $2.48, up 6.38% today. Options traders are piling into the March 28 expiry, where ITM calls are leading open interest.
With the SEC out of the picture now, what do you think is next for XRP? pic.twitter.com/8x1cpv33vx
— Deribit (@DeribitOfficial) March 20, 2025
The sentiment among traders shows a preference for calls over puts for Bitcoin and Ethereum because the current ratios are 0.85 and 0.60. The maximum expected losses for BTC and ETH are $85,000 and $2,000, respectively, because traders believe these prices represent their highest possible financial risks.
The options trading in XRP has experienced increased activity since the U.S. SEC stopped its appeal against Ripple, which led to better regulative conditions.
Ripple CEO Brad Garlinghouse expressed that the recent decision provides both Ripple organization and XRP investors with increased assurance about their future.
In addition to the legal clarity, Ripple’s control of roughly 42 percent of XRP’s total supply remains a factor. The company has signaled it may reduce XRP sales in the future, which could further tighten supply and influence pricing.
Conclusion
March 28 is an essential date for XRP holders, as the options expiry may lead to short-term price swings. With strong call option interest and a more transparent regulatory path, XRP’s performance around this expiry could set the tone for its next market move.
Also Read: Ripple CLO Says Ripple is in Control of The Next Step, Here’s What it Means
